Markarian Foundation
- Assets
- $3.4m
- Revenue
- $6.9k
- Investments
- $3.2m
- Employees
- 0
- Location
- Las Cruces, NM
- Founding
- 11/1984
- Data as of
- 02/2024
- EIN
- 31-1113243
Organization Overview
Markarian Foundation is located in Las Cruces, NM. The organization was established in 1984. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Markarian Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 02/2024, Markarian Foundation generated $6.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (37.2%) each year. All expenses for the organization totaled $222.0k during the year ending 02/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Markarian Foundation has awarded 26 individual grants totaling $721,180. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OFFERS ITS ANTIQUE AND ORIENTAL RUGS TO MUSEUMS AND HAS AN ONGOING RELATIONSHIP WITH THE TEXTILE MUSEUM AND THE CINCINNATI ART MUSEUM TO FINANCIALLY SUPPORT RELATED PROJECTS.
THE FOUNDATION SUPPORTS THE EDUCATION OF THE PUBLIC ABOUT THE AREMENIAN CULTURE AND ITS GLOBAL IMPACT IN TEXTILES AND ART.
PROMOTES EDUCATION ON ORIENTAL RUGS BY LOAN OF PERIOD PIECES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Glasgow Trustee | 5 | $35,000 | |
Gregory Markarian Trustee | 1 | $30,000 | |
Michael Van Gelder Trustee | 1 | $30,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10,073 |
| Dividends & Interest | $44,945 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$48,132 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,886 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $95,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,481 |
| Printing and publications | $0 |
| Other expenses | $42,139 |
| Total operating and administrative expenses | $141,970 |
| Contributions, gifts, grants paid | $80,000 |
| Total expenses and disbursements | $221,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,372 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $49,957 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $150,344 |
| Total assets | $3,356,687 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Markarian Foundation has awarded $80,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE TEXTILE MUSEUM PURPOSE: THE TEXTILE MUSEUM WAS GIVEN A DONATION TO FURTHER PUBLIC KNOWLEDGE AND APPRECIATION OF TEXTILES AND TEXTILE ART. | $40,000 |
ARMENIAN AMERICAN MUSEUM PURPOSE: THE ARMENIAN AMERICAN MUSEUM WAS GIVEN A DONATION TO SUPPORT EDUCATION OF THE PUBLIC ABOUT THE ARMENIAN CULTURE AND THEIR GLOBAL IMPACT IN TEXTILES AND ART. | $30,000 |
CINCINNATI ART MUSEUM PURPOSE: THE CINCINNATI ART MUSEUM WAS GIVEN DONATIONS FOR A TEXTILE CURATOR PROJECT AND PLEDGE COMMITMENT. | $10,000 |